GEMS sees healthy growth in 1999

February 2, 2000

GE Medical Systems garnered praise when GE announced its fiscal 1999 financial results. The Fairfield, CT, conglomerate said that acceptance of its Six Sigma-designed products caused its medical business to grow by 25% for the year. Six Sigma is

GE Medical Systems garnered praise when GE announced its fiscal 1999 financial results. The Fairfield, CT, conglomerate said that acceptance of its Six Sigma-designed products caused its medical business to grow by 25% for the year. Six Sigma is GE’s quality improvement program, which is being applied company-wide.

Many of GE’s 1999 accomplishments culminated at last December’s RSNA conference. There it completed its acquisition of OEC Medical Systems and introduced a new high-field open MRI system, GE Sigma OpenSpeed. Following the meeting, GE won a recommendation from a Food and Drug Administration panel for clearance of its digital mammography unit, Senographe 2000D (SCAN 1/12/00, 11/24/99, and 9/18/99).

For the year, GE reported revenues of $112 billion, up 11% compared with $100 billion in 1998. The company posted earnings of $10.7 billion, up 15% from 1998’s $9.3 billion. GE did not break out sales and earnings figures for GE Medical Systems, other than to report on the business’s overall growth.